Family Promise of Grayson County Inc

Analysis

Family Promise of Grayson County Inc is a registered charity in United States, based in Sherman, TX. It received its IRS tax-exemption ruling in October 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Family Promise of Grayson County Inc reported income of $550k and spending of $266k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $141k to $550k (+289%), an average of +40% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 72% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Family Promise of Grayson County Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Oceanview Manor Inc ($550k), Jennings Senior Housing Inc ($551k) and WHFH Development Corporation ($550k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $54k (20% of expenses). Other salaries and wages came to $38k. At year end it held assets of $432k against liabilities of $15k, net assets of $417k. It reported 3 employees.